Bloomberg — 2026-06-01#

Lead Story#

Global equities are pushing to record highs on the back of an artificial intelligence melt-up, even as geopolitical risks continue to threaten energy markets. As Nvidia Corp. pushes into the PC market with its new RTX Spark chip and Anthropic files for a blockbuster IPO, oil prices are simultaneously surging. The energy spike comes as Iran suspends peace talks with the US to protest Israel’s expanding ground assault in Lebanon, casting doubt on an interim deal to reopen the Strait of Hormuz.

Markets & Economics#

• ECB’s Schnabel Sees Risk of Unanchored Inflation Views From War: European Central Bank Executive Board member Isabel Schnabel warned that the inflationary impact of the Iran war can no longer be ignored. She noted that price pressures are expanding beyond energy, raising the risk of unanchored consumer expectations.
• US Manufacturing Activity Expands by Most in Four Years: American factory activity expanded in May at its fastest pace in four years. The expansion was largely bolstered by a robust pickup in new orders and production.
• Apollo’s Slok Says AI Will Dash Warsh’s Hopes for Quick Rate Cut: Torsten Slok of Apollo Global Management cautioned that the massive infrastructure build-out required for artificial intelligence will be highly inflationary. This dynamic will likely prevent new Federal Reserve Chair Kevin Warsh from cutting interest rates as quickly as he has suggested.
• China’s Private Factory Gauge Slows as Economy Softens: A private survey of export-oriented Chinese firms showed manufacturing activity slowing in May. The data aligns with official gauges suggesting that the world’s second-largest economy is losing momentum.

Business & Industries#

• Berkshire Hathaway to Acquire Taylor Morrison in a $6.8 Billion Deal: In the first major purchase under Chief Executive Greg Abel, Berkshire Hathaway is buying the homebuilder in an all-cash deal. The $72.50 per share offer represents a 24% premium to the company’s previous closing price.
• Diller Preparing $18 Billion MGM Takeover Bid, NY Times Reports: Billionaire Barry Diller is reportedly preparing a bid for the remaining portion of MGM Resorts International that he doesn’t already own. The prospective offer would value the casino giant at an $18 billion valuation.
• Anthropic’s First-Mover IPO Edge Set to Widen Lead Over OpenAI: AI startup Anthropic has confidentially filed for an initial public offering, pulling ahead of rival OpenAI. The move is seen as a critical step to secure a fundraising edge in the costly battle for global computing power.
• IBM Shares Surge as Old Clip of Trump Praise Recirculates Online: International Business Machines Corp. added more than $24 billion to its market value on Monday. The near 9% surge was driven by a viral, six-month-old video of Donald Trump praising CEO Arvind Krishna for boosting the stock price.
• SoftBank Announces €75 Bln AI Data Center Plan in France: SoftBank founder Masayoshi Son met with French President Emmanuel Macron to pledge up to €75 billion for artificial intelligence infrastructure. The investment will build 5 gigawatts of data center capacity, positioning France as a top European AI hub.

Policy & World#

• Iran to Halt Message Exchanges With US Over Israel, Tasnim Says: Iran announced it will suspend talks with the US in protest over Israel’s expanding ground assault into Lebanon. The halt escalates tensions just as Washington and Tehran were attempting to finalize a tentative peace agreement.
• Pro-Trump Outsider Wins Colombia Vote, Headed to Runoff: Right-wing celebrity lawyer Abelardo de la Espriella unexpectedly dominated the first round of Colombia’s presidential election, capturing 44% of the vote. He will now face leftist Senator Ivan Cepeda in a highly polarized runoff on June 21.
• Border Patrol Chief Tapped as Immigration Crackdown Continues: The Trump administration named Rosario “Pete” Vasquez as the new chief of the US Border Patrol. The appointment is designed to sustain a recent, sharp decline in illegal border crossings.
• Russia Finance Officials Tell Putin War Spending Is Unaffordable: In a rare display of internal division, senior government officials have warned Russian President Vladimir Putin that the current trajectory of military spending on the Ukraine war is on an unaffordable path.

Opinion & Analysis#

• SpaceX Needs to Get to $5 Quadrillion to Rival Mag Seven Magic: Bloomberg Opinion notes that while the imminent IPOs of SpaceX, OpenAI, and Anthropic will bring unprecedented trillion-dollar valuations to market, they still have a massive scale gap to close to match the true dominance of the Magnificent Seven.
• Tariffs Two Biggest Losers? You and You Again: This column argues that the Trump administration’s reciprocal tariffs have predictably driven up costs for American consumers across the board, noting steep price hikes on everything from dishes to computer accessories.